AAM Announces New Business Backlog for 2011-2013
American Axle & Manufacturing (AAM) announced that its backlog of new and incremental business launching from 2011 through 2013 is estimated at $850 million in future annual sales. AAM’s new business backlog for 2011-2013 is more than 20% higher than the previous three-year backlog for 2010-2012. AAM’s $850 million new and incremental business backlog for 2011-2013 reflects its successful efforts to diversify the business by increasing its exposure to global growth markets, advancing and innovating its product portfolio, and growing its customer base.
Detroit-based AAM values its new and incremental business backlog based on production volume estimates and program design direction provided by its customers. The actual sales value of these awards will depend on product volumes, program launch timing and foreign currency exchange. AAM’s new business backlog for 2011-2013 supports the company’s goal of achieving a $3 billion sales target in 2013.